Top growing business sectors during COVID-19 pandemic period in India -->

Top growing business sectors during COVID-19 pandemic period in India

Top growing business sectors during COVID-19 pandemic period in India


We can clearly see the effect of COVID-19 on the world economy. Every country struggling and trying to overcome this loss. 

Even In India, the GDP falls up to 23.9% and the most common reason behind this fall is lack of management. India completed almost 4 months in lockdown without any business activities like no transport, no manufacturing, shops are shuts, unemployment, etc. 

But still in many sectors Indian business or entrepreneurs handled this situation like a boss and shows continuous growth in business. There are some sectors where big to small companies even startup grows dynamically and shows positive results.

growing business sectors


Let's take a look at the sectors which would be at an advantage for the business model they possess:


ED-TECH

Online education, tutoring, web courses, etc. have come up to be the need of the hour when schools and educational institutions are not allowed to function. Irreplaceable, the online education sector is observing a sudden surge and people from all walks of life, from every of the COVID-19 affected nations, are looking up to alternatives of conventional teaching and learning.


People are afraid to send their kids and children to places where social distancing cannot be practiced and hence the Ed-tech sector is tapping on every possible entity they can. Also, which is convenient, holistic, and more sustainable for the time until we have a permanent cure for the COVID-19 pandemic.


HEALTH & WELLNESS

With a worldwide health emergency in play, it's a huge opportunity for the health and wellness sector to place itself as a necessity among the users. Branding themselves as pivotal and much-needed support mechanisms, this industry is already on a rise to becoming the one with most growth perspectives in the future.


People facing the imminent threat of immunity deficiency paranoia, are looking forward to anything that helps them stay healthy and fit. Adding to which, the various advisories by the authorities across the world are promoting such things, and which is an uncalled for publicity if nothing else. Also, the demand for such things has risen so drastically that the existing entities already have more than their appetite on the plate.


FINANCIAL SERVICES & NBFCs

One thing that's inevitable in the upcoming days is an all-time economic low. Masses would be stranded with less or no cash reserves. Aggravating to the issues at hand, unemployment and health issues would make matters worse. In such times, the regulated financial service providers and the NBFCs have a pivotal role to play.


Undeniably, unsecured lending would be something that people would run after. They would need funds against least of collaterals and the stringent conventional banking systems would certainly fall short of policies in such scenarios. For the medium and small scale enterprises to unemployed individuals and those who require funds on short notices, these financial entities would be the only ray of hope.


SAAS & REMOTE-WORKING TOOLS

Saas & Remote Working Tools fall right in the path of success in such times. With the temperamental changes that we are likely to witness, SaaS applications & Remote Working Tools would facilitate the ongoing projects and pave the road map for future endeavors to greater extents.


These applications would serve the founding stones for the majority of business operations in the future and a haven for existing ones. Supporting the need of the hour, while accentuating the current work culture to better productivity, these would help position or in the transition to a better stance for numerous brands across the globe.


E-COMMERCE & DELIVERY BASED SERVICES

With national lockdown imposed in various countries, social distancing being practiced as the new normal for upcoming months if not years, and people refraining from gathering up at markets, grocery stores and public places, the E-commerce & Delivery based sectors are booming at large. These offer a safe and distanced way to procure essential and non-essential commodities, which is advised as precautionary measures for COVID-19, the industry is to see a spike in customer-retail operations.


Given the advent of the technological revolution and interface management systems, this industry was already on a growth trajectory. But the recent turn of events just catalyzed the entire game to unprecedented levels. People who refrained from using online ordered utilities; services and commodities are now adapting to procure for their daily needs.


OTT PLATFORMS & ONLINE GAMING

Over the top media and online gaming have surfaced above the conventional ways of entertainment. With bans and restrictions on movie theatres, gaming hubs and other recreational-amusement installations, these OTT platforms and the online gaming world had to fill in the gaps.


Soon enough, those who were not accustomed to these would be habitual and the need for heading out to garner some entertainment would be replaced by these. These have proven to be time & cost-efficient, provide a more personalized version of the same experience and one can experience these at the comfort of home.


 PHARMA, LIFE SCIENCES & LABS/PATHOLOGY

Another major sector that came out to be a winner is the Pharma, life sciences and pathology sector. May it be children, adults or the elderly, in the wake of COVID-19 spread, the majority of the human population would wish to have enough health medication and facilities handy.


Once a vaccine is successfully developed, the shape of our current Pharma industry would change for good. Every single human being would require a dose and to provide for the demand at hand will be on the shoulders of our Pharma industry. These people would be providing for a noble cause, but to make a fortune for them is more than certain.


Conclusively, the future is bleak for most of us. Economies are uncertain for growth, widespread unemployment looms over us for the upcoming quarters, but not for the sectors and industries stated above. These would continue to shine even in the cloudiest of weather. After when the storm passes by, these would emerge as the knowledge and industry leaders to behold. 

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